Arcane Assets CIO Ridicules Charles Hoskinson and Cardano for Bitcoin Criticism on TV

Arcane Assets CIO Ridicules Charles Hoskinson and Cardano for Bitcoin Criticism on TV

During a recent interview at the Swedish economy news channel Di TV, the chief investment officer of Arcane Assets Eric Wall has ridiculed Charles Hoskinson and his Cardano platform (largest Proof-of-Stake blockchain in the market and its native coin ADA ranking third) for saying that Bitcoin can become history unless it starts deploying smart contracts.

@IOHK_Charles Roast session 😂😂 https://t.co/3BR73xVaPY— ELON TUSK (@mrtonytalkstech) September 4, 2021

Criticizing Bitcoin for lack of smart contracts

In an extract of a video stream by the Cardano CEO demonstrated during the interview, Hoskinson says that if Bitcoin will be here in fifty years’ time and will be strong and prosperous only if the developers can provide a basis for deploying smart contracts on it.

Otherwise, he assumes, the flagship cryptocurrency is doomed to be left behind as one other things which were great for their time, failed to enter the future but gave a great inspiration and passion to the community and worked as a proof-of-concept.

Hoskinson stated that trying to build the layer-2 solution on Bitcoin is not satisfactory – a similar attempt was made eight years ago and it failed. That was the reason for creating Ethereum, Hoskinson pointed out.

Is this actually an accurate translation? https://t.co/jaZlemS1yj— Charles Hoskinson (@IOHK_Charles) September 4, 2021

Eric Wall making personal remarks on Hoskinson

Eric Wall started off by saying he agrees that setting up smart contracts on Bitcoin cannot be achieved and that other platforms would take over. However, he doubts that there is a better platform for that in the market now than Ethereum.

First he agreed that Bitcoin indeed lacks smart contracts and it would be a good idea for BTC to build this capability. However, he stated that Ethereum is the best in the market for this purpose, as if hinting that Cardano fades in comparison.

He then switched to personal remarks about Hoskinson, saying that he is an “imbecile with no class or vision”, he is “clueless about Bitcoin”, “dresses up like Santa Claus”, “dresses to look 55 when he is 33 to gain legitimacy”.

He also took a jab at Cardano and the innovation this platform offers, comparing the latest developments to “rock.jpeg NFT” (referring to the EtherRock NFT sold for $1.3), which can be only bought by a lunatic or retarded child.

Cardano rolling out smart contracts

As of September 1, the Cardano testnet officially supports smart contracts. This news made ADA soar to a new all-time high above $3. The final testnet was launched prior to the release of the much-expected Alonzo hard fork on Cardano scheduled for September 12.

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